Obama taps GE chairman for new economic group
January 21st, 2011
02:12 PM ET

Obama taps GE chairman for new economic group

By CNN Wire Staff

Washington (CNN) - President Obama announced the creation of an economic advisory council Friday that will be headed by Jeffrey Immelt, the CEO and chairman of General Electric.

The President's Council on Jobs and Competitiveness will replace the Economic Recovery Advisory Board that was headed by former Federal Reserve Chairman Paul Volcker.

Volcker's board helped pull the economy "back from the brink," Obama said. Immelt's panel will be charged with "putting the economy into overdrive."

"Jeff's somebody who brings a wealth of experience to the table," Obama said. "We think GE has something to teach businesses all across America."

Obama made the announcement while visiting a GE plant in Schenectady, New York.

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Topics: European Union • GM • President Obama
Obama on GM
November 18th, 2010
05:05 PM ET

Obama on GM

Hello, everybody. Good afternoon. Today, one of the toughest tales of the recession took another big step towards becoming a success story.

General Motors relaunched itself as a public company, cutting the government’s stake in the company by nearly half. What’s more, American taxpayers are now positioned to recover more than my administration invested in GM.

And that’s a very good thing. Last year, we told GM’s management and workers that if they made the tough decisions necessary to make themselves more competitive in the 21st century - decisions requiring real leadership, fresh thinking and also some shared sacrifice –- then we would stand by them. And because they did, the American auto industry -– an industry that’s been the proud symbol of America’s manufacturing might for a century; an industry that helped to build our middle class -– is once again on the rise.
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Topics: GM • President Obama • The News
November 18th, 2010
04:35 PM ET

Obama: The American auto industry is on the rise

"Today one of the toughest tails of the recession took another big step towards becoming a success story. General Motors re-launched itself as a public company, cutting the governments stake in the company by almost half. What's more, American tax payers are more positioned to recover more than my administration invested in GM."


Topics: GM • President Obama • The News • The Visuals
Obama to talk about GM
November 18th, 2010
02:07 PM ET

Obama to talk about GM

Washington (CNN) - President Obama will make a statement Thursday on General Motors. White House Press Secretary Robert Gibbs announced the statement in an off camera gaggle at the White House just moments ago. The president’s statement will happen at 4:15 pm Thursday and focus on the recent success of GM’s economic turnaround.


Topics: GM • President Obama • The News